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Nissan’s profit jumps to R30bn

Tokyo - Japanese auto giant Nissan said Monday its nine-month net profit jumped 18.4 percent to $2.68 billion, boosted by a cheap yen and improving demand in the key North American market.

The country's second-biggest car maker said it earned 274.1 billion in the April-December period on sales of 7.27 trillion yen, a rise of 19.7 percent from a year earlier.

A logo of Nissan is pictured outside the company headquarters building in Yokohama, south of Tokyo. Credit: REUTERS

For the nine-months, Nissan sold 3.67 million vehicles globally, up 1.0 percent.

“Nissan has delivered a solid nine-month performance amid growing demand for new models in several key markets,” the company's chief executive Carlos Ghosn said in a statement.

“Sales in Japan and North America helped offset emerging market volatility and sluggish conditions in Europe. Based on its strong product line-up and current market demand, Nissan is maintaining its full-year earnings guidance.”

In November, Nissan downgraded its fiscal full-year net profit forecast to 355 billion yen from an earlier estimate of 420 billion yen. - Sapa-AFP

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